On a related note, an EA or robot can consider far more variables at the same time than you could hope to wrap your head around.
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And it can consider those variables for several different currency pairs at the same time. You can not, no matter how intelligent you are. If your EA isn't able to respond to real-time news, it would ignore important fundamental reasons for making or not making trades. If you're at your desk monitoring the news, you can avoid such trading mistakes. And similarly, even though the EA can deal with more variables at once than you can, it can act only according to what you've programmed it to do.
You're not as rigid in your thinking and can respond to variables that fall outside those limited parameters. And there may be times when that's necessary to avoid a big trading error—or take advantage of a significant opportunity. Whether you use someone else's EA or create your own, it's crucial to test it over various time frames in a practice account—one that doesn't put real money at risk—to see how it performs for you. You may find, for instance, that it works well on certain currency pairs but not on others.
If you're using an EA you programmed, be prepared to finagle with the variables from time to time. As trends in the market change, your program may have to change with them. If you're using an EA from another firm or individual, remember that the currency market is largely unregulated, which makes it a natural for scammers.
Beware, of course, of EA creators who promise ridiculously high returns.
But also realize that some scammers understand overpromising is a red flag, and an EA provider that tries to strike a balance between hope and credibility may also be a scammer. Above all else, do your research before committing to any one expert advisor, and keep your expectations realistic.
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There are some good EAs out there, and some traders achieve year-over-year gains using an EA or robot that trades automatically, but their annual percentage returns are likely to be in the high single or low double digits at best. Trading Forex Trading. By Full Bio Follow Linkedin. This information should be added to the website, or else this could easily be perceived as a service being run by one person. They can be contacted for any type of inquiry, via support priceactionltd. They analyze the markets, and follow the world economy closer than any one person could on on their own.
Then, they provide signals with specific entry prices, stop losses and take profits. Lastly, the trader receive this information, and place their trades with their desired trading platform. The group also offers free Forex signals via their telegram channel. In this channel they offer free signals on a daily basis, so that traders can test their service first before signing up. If you are interested in the service, we certainly recommend that you take advantage of this aspect, as there is no other verified proof that this is a best Forex signal service , outside of testimonials.
The most important part of any Forex signal service is the trading strategy and the trading analysts. Obviously, the foundation of their approach is price action, which we can surmise from the name of the service, but we expect more detail. We would like the vendor to tell us what their analysts are looking for when setting up a trade, and what type of market conditions are most favorable. They do provide an analysis section of the website which consists of screen shots showing different market projections.
This section shows that the analysts are knowledgeable, but we still feel they should provide us at least a paragraph about their methodology. The signals come at a great discount for traders who lock-in to a longer term subscription. They should certainly be providing long term statements, and a Myfxbook account to back up every trade that they place.
Yet, they lack in the two most important areas, strategy and trading results.
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Both of these aspects can be resolved very quickly by a paragraph about their methodology, and some verified trading results. If you have anything you would like to add to the review, please leave your comments and remarks below the article now. This signal providers totally scammer. I found out that they copied signal from other providers which I am their VIP members as well. Besides, they din provide any reliable signal and analysis, and having issues to generate weekly report.
Wide SL compared to their pips take profit. They do give few hundred TP but end up advise members to close it when trade reach pips. Once if the trade reach their initial TP, they promote it to their free telegram group Close too much half lot end up you gaining those fake pips. Strongly not recommend.
If their signal is worthy, why they want to do so? Hi Abel, please can you recommend a reliable signal provider. Which of the providers are you subscribed to? I subscriber their VIP signal channel after trying their Free channel in telegram. I am in their VIP channel for around 3 months now.
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But I have gained less pips with their signal in some weeks. At least they measure very practical outcome. I hope they will improve their services and supports.
I have been using their signals for 3 months now. For me, the results are on average compared to the price. They have issues sharing the weekly reports. I have also complained to them about this. I usually make pips weekly with them. I would recommend them for beginners.